or Islamic bond, a document issued by one of the banks showed.
The Jeddah-based triple A-rated institution gave initial price guidance in the high 40 basis points over mid swaps area,
the document showed.
Sukuk is defined by Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI)
Islamic bonds, structured in such a way as to generate returns to investors without infringing Islamic law (that prohibits riba or interest).
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